Gulf Island Fabrication, Inc. Announces Project Award

August 11, 2014 01:48 PM Eastern Daylight Time

HOUSTON--(BUSINESS WIRE)--Gulf Island Fabrication, Inc. (NASDAQ: GIFI), announced today that,
through its subsidiary Gulf Island L.L.C., it has received an award
letter from Arena Offshore, LP for the fabrication of two (2)
Jacket/Piles and Topsides for Arena’s projects located in the Gulf of
Mexico. Delivery for these units is set for late second quarter 2015.
Revenue backlog and man-hours associated with this project will be
reported in connection with the Company’s announcement of financial
results for the quarter ending September 30, 2014.

Gulf Island Fabrication, Inc., based in Houston, Texas, is a leading
fabricator of offshore drilling and production platforms, hull and/or
deck sections of floating production platforms and other specialized
structures used in the development and production of offshore oil and
gas reserves. These structures include jackets and deck sections of
fixed production platforms; hull and/or deck sections of floating
production platforms (such as tension leg platforms (“TLPs”), “SPARs”,
“FPSOs” and “MinDOCs”), piles, wellhead protectors, subsea templates and
various production, compressor and utility modules, offshore living
quarters, towboats, liftboats, offshore supply vessels, dry docks, tanks
and barges. The Company also provides offshore interconnect pipe
hook-up, inshore marine construction, manufacture and repair of pressure
vessels, heavy lifts such as ship integration and TLP module
integration, loading and offloading of jack-up drilling rigs,
semi-submersible drilling rigs, TLPs, SPARs, or other similar cargo,
onshore and offshore scaffolding, piping insulation services, and steel
warehousing and sales.